Majority Leader and Leader of Government Business in Parliament, Mahama Ayariga, has proposed the creation of a pension scheme to support Ghana’s retired parliamentarians.Speaking in Parliament on January 29, 2025, he highlighted the financial struggles that many former MPs face after leaving office.

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He argued that a structured retirement plan would not only provide stability for ex-lawmakers but also strengthen the integrity of Parliament.According to Ayariga, some legislators dedicate decades to public service but retire without any formal pension arrangement, making them financially vulnerable. He stressed that securing their well-being post-office is essential to maintaining an independent and effective legislature.

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To fund the proposed pension scheme, he suggested an unconventional approach—using revenue from carbon credits instead of relying on taxpayers' money. Under this model, Ghana would generate funds from environmental projects like afforestation and renewable energy initiatives, selling carbon credits on international markets. A portion of these earnings would then be allocated to the pension fund for retired MPs.

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He explained that linking parliamentary pensions to carbon credits would have a dual benefit: ensuring financial security for lawmakers while incentivizing legislative action on climate issues. By adopting this strategy, Parliament would be encouraged to take a more active role in promoting environmental sustainability.

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Drawing on global examples, Ayariga referenced the pension structures in the United Kingdom and Kenya, where retired legislators receive financial support. He pointed out that in Ghana, even MPs who serve for over two decades often retire without a structured pension plan, leaving them at risk of economic hardship.

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He further warned that financial insecurity among MPs could create opportunities for undue influence and corruption while they are in office. A well-planned pension scheme, he argued, would help safeguard the integrity of the legislature by reducing these risks."The perception out there is that parliamentarians are well to do. It is unfortunately not the case in majority of the instances.

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Many parliamentarians come from diverse backgrounds and may not have had the opportunity to build a significant retirement nest egg. Without a pension scheme, they may face financial uncertainty in retirement, which can be a source of stress and anxiety and vulnerability. This will translate into a national vulnerability given where they sit and the approvals that must come from them.

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A pension scheme would provide them with a predictable income stream, allowing them to live with dignity and security when they leave Parliament. They can better resist temptation," he said.Beyond financial considerations, he emphasized that tying MPs' pensions to carbon credit revenues would push Parliament to prioritize climate policies.

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He proposed that lawmakers focus on enacting legislation related to climate change, renewable energy adoption, and forest conservation as part of this initiative.To advance the proposal, Ayariga called for the establishment of a parliamentary committee to explore the feasibility of the pension scheme and develop a framework for implementation.

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While acknowledging potential challenges, such as fluctuations in carbon credit prices, he maintained that with proper oversight, the initiative could be both viable and sustainable.He urged his colleagues to support the proposal, describing it as a forward-thinking measure that would not only secure the welfare of retired lawmakers but also contribute to Ghana’s environmental goals.

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